8. (1) Save as otherwise provided, the Chairman and other Directors shall hold office during pleasure of the Government for a period not exceeding three years from the date of appointment but are removable by the Government for permanent incapacity or other cause; and a retiring Chairman or Director shall be eligible for reappointment for another term only. (2) When a person appointed as Director, ceases to represent the particular interest which he was appointed to represent shall also cease to be the Director, and his seat shall be deemed to have been vacated and a person shall thereupon be appointed to fill the vacancy. (3) Any vacancy in the office of a Director shall be filled in by fresh appointment and a Director so appointed shall hold office for the remaining period for which the Director in whose place he is appointed would have held office. (4) The Chairman and other Directors shall serve without remuneration but may be paid such travelling and other expenses when engaged on business of the Board as may be prescribed.